The Block
Quick Take This is an excerpt from the thirteenth edition of The Funding sent to our verified subscribers on Nov. 3. The Funding is a fortnightly newsletter written by Yogita Khatri, The Block’s longest-serving editorial member. To subscribe to the free newsletter, click here.
Quick Take Solana had over 123 million active addresses on the network last month, reaching its highest level.
Quick Take A rise in volatility means traders have a two-in-three chance of seeing swings of nearly 10% in the price of Bitcoin and Ethereum following Tuesday’s election, according to an analysis by Nick Forster, founder of DeFi options protocol Derive.xyz.
Quick Take The crypto casino Metawin was drained of about $4 million in tokens after hackers exploited its withdrawal system to attack the protocol’s hot wallets on Ethereum and Solana. Metawin has restored access, backfilled the stolen funds, and contacted law enforcement, according to its CEO.
Quick Take The Monetary Authority of Singapore today published two new frameworks, aimed at supporting further tokenization efforts for funds and fixed-income instruments. The MAS also formed a “Guardian Wholesale Network” to scale the usage of tokenization practices.
Quick Take The Sept. 18 event will come at the heels of a bus tour called the “America Loves Crypto Tour,” which visited five swing states. Crypto has become a hotly contested election issue for the industry.
Quick Take This resurgence in NFT trading volume on Magic Eden could carry significant implications for the broader crypto ecosystem. The following is an excerpt from The Block’s Data and Insights newsletter.
Quick Take New York court grants Coinbase access to some SEC documents. SEC must search beyond initial staff list, but commissioners excluded. Judge Failla ordered “huge discovery into internal memorandum and other documents reflecting the SEC’s Howey analysis,” Coinbase’s chief legal officer said.
Quick Take U.S. publicly traded bitcoin miners have finished releasing their monthly mining updates for August. Several miners also released their most recent quarterly earnings reports during the month.
The Ethereum Foundation plans to release a financial report “relatively soon” to address community concerns surrounding its spending, according to researcher Justin Drake.Japan’s three major banks, MUFG, SMBC and Mizuho, are set to test a cross-border stablecoin transfer platform dubbed “Project Pax.”U.S. spot Bitcoin ETFs saw $211.1 million in net outflows on Thursday, marking the seventh consecutive day of negative flows totaling over $1 billion.The following article is adapted from The Block’s newslette
